New dis­count on no­taires’ fees

Living France - - Les Pratiques -

Re­cent re­forms to no­taires’ fees is wel­come news to any buy­ers think­ing of in­vest­ing in prop­erty in France. The changes, which come into ef­fect on 1 May 2016, form part of the Loi Macron and will al­low

no­taires to of­fer a dis­count on their fees. As a re­sult of these changes, the max­i­mum fee that no­taires can charge is10% of the value of the

prop­erty, and there is a min­i­mum fee of €90. For trans­ac­tions over €150,000, no­taires will also be able to of­fer a dis­count of up to 10%. It is ad­vis­able for pur­chasers to ob­tain writ­ten con­fir­ma­tion of this dis­count from the be­gin­ning, es­tab­lish­ing if a con­ces­sion will be granted and for how much. A sub­stan­tial prop­erty pur­chase will be matched with a con­sid­er­able 40% dis­count on fees for prop­er­ties

over the €10 mil­lion mark. How­ever, it must be noted that these dis­counts only re­late to the no­taire’s fee and not the taxes and charges which the no­taire col­lects for the gov­ern­ment on com­ple­tion, sim­i­lar to Stamp Duty Land Tax and Land Reg­istry fees. These dis­counts

also do not ap­ply to new-build prop­er­ties.

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